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M/I Homes(MHO) - 2021 Q4 - Annual Report
2022-02-17 21:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ (Address of principal executive offices) (Zip Code) Commission File Number 1-12434 (614) 418-8000 (Registrant's telephone number, including area code) M/I H ...
M/I Homes(MHO) - 2021 Q4 - Earnings Call Transcript
2022-02-03 02:43
M/I Homes, Inc. (MHO) Q4 2021 Earnings Conference Call February 2, 2022 4:00 PM ET Company Participants Phillip Creek - Executive Vice President and Chief Financial Officer Robert Schottenstein - Chairman, President and Chief Executive Officer Derek Klutch - President of Mortgage Company Ann Marie Hunker - Vice President, Chief Accounting Officer and Controller Conference Call Participants Jesse Lederman - Zelman & Associates Alex Barron - Housing Research Center, LLC Jay McCanless - Wedbush Securities Inc. ...
M/I Homes(MHO) - 2021 Q3 - Quarterly Report
2021-10-29 15:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________________ Commission File Number 1-12434 M/I HOMES, INC. (Exact name of registrant as specified in it charter) Ohio 31-1210837 (State or oth ...
M/I Homes(MHO) - 2021 Q3 - Earnings Call Transcript
2021-10-28 01:52
M/I Homes, Inc. (MHO) Q3 2021 Earnings Conference Call October 27, 2021 4:00 PM ET Company Participants Phillip Creek - EVP and CFO Robert Schottenstein - CEO and President Derek Klutch - President, Mortgage Company Ann Marie Hunker - VP, CAO, Controller Kevin Hake - Senior VP Conference Call Participants Aaron Hecht - JMP Securities Ivy Zelman - Zelman & Associates Alex Barron - Housing Research Center Art Winston - Pilot Advisors Jay McCanless - Wedbush Operator Hello and welcome to M/I Homes Third Quarte ...
M/I Homes(MHO) - 2021 Q2 - Quarterly Report
2021-07-29 13:33
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________________ Commission File Number 1-12434 M/I HOMES, INC. (Exact name of registrant as specified in it charter) (State or other jurisdiction of in ...
M/I Homes(MHO) - 2021 Q2 - Earnings Call Transcript
2021-07-29 02:59
M/I Homes, Inc. (MHO) Q2 2021 Results Earnings Conference Call July 28, 2021 4:00 PM ET Company Participants Phillip Creek - Executive Vice President and Chief Financial Officer Robert Schottenstein - CEO and President Derek Klutch - President, Mortgage Company Ann Marie Hunker - VP Chief Accounting Officer Kevin Hake - Senior VP Conference Call Participants Ivy Zelman - Zelman & Associates Alex Barron - Housing Research Center Jay McCanless - Wedbush Operator Hello and welcome to M/I Homes, Inc. Second Qua ...
M/I Homes(MHO) - 2021 Q1 - Earnings Call Presentation
2021-04-30 23:31
M/I Homes, Inc. April 2021 Forward Looking Statements Certain statements in this Presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "envisions," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any ...
M/I Homes(MHO) - 2021 Q1 - Earnings Call Transcript
2021-04-29 01:30
Financial Data and Key Metrics Changes - The company reported a record first quarter with revenues increasing by 43% to $829 million compared to the previous year [11][26] - Pre-tax income reached an all-time quarterly record of $110 million, up 167% year-over-year, resulting in a pre-tax income percentage of 13.3% compared to 7.2% last year [11][27] - Return on equity improved to 25% from 15% a year ago [29] Business Line Data and Key Metrics Changes - The company sold a record 3,109 homes during the quarter, a 49% increase from the previous year [9][23] - Homes delivered increased by 35%, totaling 2,019 homes, which represented 46% of the backlog [11][25] - Smart Series sales comprised nearly 35% of total sales, up from 30% a year ago [9][98] Market Data and Key Metrics Changes - New contracts in the Southern region increased by 46%, while the Northern region saw a 53% increase [15] - The backlog sales value reached a record $2.4 billion, an 82% increase from last year [12] - The average price in backlog increased by nearly 10% to $433,000 compared to the previous year [12] Company Strategy and Development Direction - The company aims to continue gaining market share and improving profitability across all 15 markets [8][21] - There is a focus on expanding the Smart Series product line, which has shown better sales pace and higher gross margins [10][19] - The company plans to open more communities this year than last year, despite challenges in community count growth [55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for new housing driven by low mortgage rates and a growing number of millennials entering the housing market [7][8] - The company anticipates a strong second quarter in closings, despite some delays due to weather-related issues [45] - Management expects to maintain strong margins unless there are significant changes in market conditions [51][73] Other Important Information - The company has a strong financial position with $1.4 billion in equity and a cash balance of $293 million [20] - The owned and controlled lot position approximates 42,000 single-family lots, providing a nearly five-year supply [17][38] - The average mortgage amount increased to $328,000, with a solid borrower profile [33] Q&A Session Summary Question: Can you discuss the increase in order growth from February to March? - Management noted that the order growth was consistent, with some closings delayed due to weather issues in Texas [44] Question: What is the expected pace of closings for the rest of the year? - Management indicated that the current pace of closings is strong, driven by the Smart Series homes, and they expect to maintain this pace [48][49] Question: What drove the gross margin increase this quarter? - Management attributed the gross margin increase primarily to strong demand rather than mix or older land purchases [50][51] Question: How do you view community growth by year-end 2021? - Management expressed that achieving community count growth this year will be challenging, but they expect to continue growing overall [55] Question: Can you comment on interest expense and capital allocation? - Management feels confident about their capital structure and is focused on land purchases to support growth, with discussions ongoing about potential stock buybacks or dividends [96] Question: What percentage of orders or closings were from the Smart Series? - Management confirmed that 35% of total sales were from the Smart Series, up from 30% a year ago [98]
M/I Homes(MHO) - 2021 Q1 - Quarterly Report
2021-04-28 20:48
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________________ Commission File Number 1-12434 M/I HOMES, INC. (Exact name of registrant as specified in it charter) (State or other jurisdiction of i ...
M/I Homes(MHO) - 2020 Q4 - Annual Report
2021-02-19 17:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 1-12434 M/I HOMES, INC. (Exact name of registrant as specified in it charter) Ohio 31-1210837 (State or other jurisdiction of incorpo ...